~~WELLNESS TIP~~


Wipe our Debt
Wipe our Debt (Photo credit: Images_of_Money)

 

Misc Tip Credit card debt and the stress that goes with it can be bad for your health. To reduce both, tackle your smallest balances first.

 

Make this the year to get your finances in order. Large amounts of credit card debt

English: Mortgage debt
English: Mortgage debt (Photo credit: Wikipedia)

— and the stress that goes with it — can be bad for your health. To wipe out some of both, think small. Research shows that people with large amounts of debt are more likely to pay it all off if they go after the accounts with the smallest balances first — even though they may pay more interest in the long run. Feeling successful at the beginning, by paying off smaller debts first, helps you stay motivated. Being able to cross an account balance off your list will help you keep going. Don’t hesitate to pay down your largest balances first, of course, if that works better for you. But if your list is long and overwhelming, paying off smaller sums first may be a better motivator and stress reducer

 

 

 

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